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Various Discounts Made Available To Car Owners

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Due to the high cost of auto insurance policies and the legal requirement of

owning one, spending money on insurance can feel more like an obligation rather

than a way of protection against financial liability and loss. Although auto

insurance is a recurrent expenditure, and an often substantial one at that, it is

nonetheless crucial that you have one. Thankfully, there are plenty of discounts

offered by insurance providers to encourage you to buy policies from them or

ensure your loyalty. Below are some of these discounts.

Good grades discounts

This is a discount provided to students or teen drivers. Insurers offer these

discounts because they believe that students with good grades are generally safer

on the road, and thus not as risky to cover. To be eligible, you need to show

evidence of good grades within a 30-day period.

Defensive driving discounts

High risk groups such as new or teen drivers as well as senior drivers older than 75

can take advantage of lower premiums if they finish a defensive driving course.

These courses are available in many high schools and

private driving schools. Prior to enrolling in these

programs, make sure to ask the insurer if they have

preferred driving schools so you can be eligible for their

safe driver discounts.

Markdowns from installing anti-theft devices

Installing safety or security features to your vehicle can shave off 15% to 20% off

the price of your policy. New cars are often sold with these advanced safety

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technologies, so this option is more appropriate for older cars or cheaper but new

car models that do not have these features. The safety device that will provide

the greatest discount is one that is utilized or endorsed by your local or state law

enforcement bureau.

Maintain a clean driving record

Among the different techniques to keep your insurance costs low, keeping a clean

driving history is probably the most effective. You can cut insurance costs up to

40% by not being in any mishap or any traffic violations. Insurance companies

designate points to moving infractions and mishaps to codify the seriousness of

these events and determine how much

of a risk you are to cover. These points

will fade in three to seven years,

making it doubly necessary to observe

good driving practices.

No or Low down payment policies

Down payment for insurance products can be considerable. To secure the

patronage of car owners, a lot of companies provide cheap car insurance with no

down payment. Then again, make sure to read the small print of these offers

because most of the time, these still require some payment, usually a single

month’s premium. At times, these insurance plans require you to pay a specific

amount of money in a given period before your insurance policy becomes

effective.